Excess wealth order and sample spacings

Subhash Kochar, Xiaohu Li, Maochao Xu

Research output: Contribution to journalArticlepeer-review

12 Scopus citations

Abstract

In this note, we further study the properties of excess wealth (or right spread) order and the location independent riskier order. It is proved that if X is less variable than Y according to excess wealth order, then Xn : n - Xk : nicx Yn : n - Yk : n for k = 0, 1, ..., n - 1, where X0 : n = Y0 : n ≡ 0. Similar results are obtained for location independent riskier order. An application in k-price business auction models is presented as well.

Original languageEnglish
Pages (from-to)385-392
Number of pages8
JournalStatistical Methodology
Volume4
Issue number4
DOIs
StatePublished - Oct 2007

Keywords

  • Auction
  • Increasing convex order
  • Location independent riskier order
  • Rent of winner
  • Right spread order
  • Sample range

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